JOB TITLE: EXECUTIVE FINANCIAL ASSOCIATE

JOB CODE: 03065

DEFINITION: This is beginning level professional work in performing enterprise-wide accounting or specialized auditing work within the Governor’s Office of the Budget, Office of Comptroller Operations.

An employee in this job receives formal and on-the-job training designed to develop a broad understanding of the nature and scope of enterprise-wide professional accounting or specialized auditing work as performed in the Office of Comptroller Operations. Employees receive specific instruction from experienced professional staff in one or more areas of enterprise-wide professional accounting or specialized auditing based on their organizational placement and programmatic assignments. Employees are assigned responsibility for accounting or auditing work involving small or less complex funds or audits in order to demonstrate an understanding of the work and the environment in which the work is performed. Assignments are intended to facilitate understanding of the interrelationships among the Governor’s Budget Office, other state agencies, Treasury, the Auditor General, the federal government, vendors, recipients, and sub-recipients. Supervision is received from a professional manager who provides guidance on new or unusual matters with basic work being performed independently under general supervision.

EXAMPLES OF WORK: (NOTE: The examples of work are representative of the work, but every position classified to this job may not perform all examples of work listed. Conversely, this is not an all-inclusive list of work examples.):

• Analyzes financial transactions or prepares financial statements and reports for state or federal funds.

• Analyzes and projects financial data within established policies and procedures.

• Maintains accounting records and other supporting documentation, posts accounting entries to general ledger accounts, and uses month-end and year-end trial balances to prepare financial reports.

• Maintains expenditure and budgetary control accounts and prepares status reports.

• Prepares and posts adjustment transactions to correct or close accounts.

• Participates in the maintenance of inventory controls to ensure accurate records of materials in process and finished products to determine cost and wastage.

• Participates in the determination of overhead costs to be allocated among different industries or cost centers.

• Maintains complete accounting records to support unit, product, and industry costs and the factors used to determine these costs.

• Reports errors detected in financial records to the manager and recommends potential resolution.

• Monitors, reconciles, and corrects funds; processes transactions and prepares reports for small fund types.

• Applies relevant accounting theories and practices for a variety of transactions, such as revenues, expenditures, transfers, accounts payables, accounts receivable, fixed assets, loans, and inventory in accordance with applicable accounting and reporting standards.

• Calculates and performs cash draws from the federal government in order to comply with the Cash Management Improvement Act for the commonwealth.

• Analyzes, prepares, and adjusts fund blocks.

• Reconciles advancement accounts, researches and resolves discrepancies with advancement checks, and prepares entries in SAP to correct errors and reconciliation issues.

• Processes Treasury redlines.

• Assists with providing financial overview and recommendations to agencies in areas, such as cash flow, inventory levels, projections, and internal controls.

• Conducts performance audits to ensure that commonwealth programs are operating effectively and intended goals and objectives are being achieved.

• Conducts agreed-upon procedures and other attestation engagements in accordance with established standards.

• Assists independent auditors with the completion of the commonwealth’s Comprehensive Annual Financial Report and Single Audit.

• Reviews subrecipient audit reports for technical conformance with regulations.

• Participates in information systems general control reviews, application control reviews, and systems development reviews.

• Performs the full range of supervisory duties.

• An employee in this job may participate in the performance of subordinates’ work consistent with operational or organizational requirements.

• Performs related work as required.

ENTRY LEVEL KNOWLEDGES, SKILLS, AND ABILITIES:

• Knowledge of generally accepted accounting principles.

• Knowledge of generally accepted auditing standards.

• Knowledge of statistical sampling procedures and techniques used in auditing.

• Knowledge of computerized accounting and auditing processes.

• Knowledge of report writing techniques.

• Knowledge of the use and functionality of Microsoft Office Suite software.

• Ability to locate, compile and interpret information, data, or facts from several different sources and systems.

• Ability to assemble, analyze, and prepare reports and statements of financial data.

• Ability to analyze and interpret relevant laws, regulations, technical and administrative policies, procedures, and reports.

• Ability to communicate effectively orally.

• Ability to communicate effectively in writing.

• Ability to establish and maintain effective working relationships.

MINIMUM EXPERIENCE AND TRAINING: (NOTE: Based on the Entry Level Knowledges, Skills, and Abilities):

• Three years as an Accounting Assistant (commonwealth title) and completion of 21 college credits in accounting and an additional 3 credits in finance or accounting;

or

• Two years as a Fiscal Technician (commonwealth title) and completion of 21 college credits in accounting and an additional 3 credits in finance or accounting;

or

• A bachelor’s degree including 21 credits in accounting and an additional 3 credits in finance or accounting;

or

• An equivalent combination of experience and training that includes 21 college credits in accounting and an additional 3 credits in finance or accounting.